AirAsia’s takeover of Zest Air seen securing Congress nod before yearend

 

By: Darwin G. Amojelar, InterAksyon.com
AirAsia's takeover of Zest Air seen securing Congress nod before yearendMANILA, Phils., Nov. 25, 2013 – Former ambassador Alfredo Yao expects Congress to approve before the end of the year the transfer of control over Zest Airways Inc to the Philippine unit of Southeast Asia’s largest budget carrier.

 

The owner of Zest Air told reporters last week that the company submitted its application to Congress “a few days ago” and expects this to be approved in a “month’s time.”

 

When asked for how much Air Asia Inc is acquiring shares in Zest Air, Yao said, “It depends on their appetite. They are very interested. Up to what percent, I don’t know.”

 

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